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What is the problem of central economic
#what is exceptional supply curve
1. Consider the consumption decisions of R.B. Turbo, a new student at Teachers College, Columbia University. Ms. Turbo has only available $1,000 in monthly income to spend on food
When the price of candy bars increased from $.45 to $.55 the quantity demanded changed from 21,000 per day to 19,000 per day. In this range the price elasticity of demand for cand
demand for two market are P1=15-Q1&P2=25-Q2.the monopoly TC is C=5+3(Q1+Q2).What are ,output,profit&MR if the monopolist can price disc? riminate
Institutionalist Economics: A school of heterodox economicsthat emphasizes importance of institutional development and evolution (as opposed to ‘pure' market forces) in explaining
What is return on investment? Return on investment is the profit earned by investing in some business or some project, for instance investment in stock exchange. Profit earned
The Industry's Long-Run Supply Curve * Long-Run Elasticity of Supply 1) Constant-cost industry Long run supply is horizontal Small increase in price will induc
Unions in a Competitive Market: Again, there a group of economists who will rely on the use of the competitive model to demonstrate the evils of unionization. The most regular anal
What are constant returns to scale? Constant returns to scale: A constant return to scale (CRS) implies that doubling inputs precisely double outputs, which is frequently a
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